The Swiss private equity has closed its third investment in Spain in just 18 months, reinforcing the strategic commitment of private capital based in Zurich for our country. As confirmed by financial sources to elEconomista, the manager led by Joaquin Alcalde in Iberia has acquired a majority stake in Einzelnet, a leader in comprehensive digitization services and specialized in Technology and Information Systems (IT).
The amount of the investment has not been made public, but the Swiss fund invests up to 50 million euros per company. The operation represents the first acquisition of its seventh fund, Ufenau VII, endowed with 1,000 million euros. The transaction has been advised by and -on the financial side- and has had the support of the law firms and .
To date, Einzelnet was 100% owned by the management team and the founding partners (José Gil, Francisco García, David Quirós and Joaquín Cánovas), who each year have reinvested profits, operating solely with their own financing and funds and, therefore, so debt free.
With the takeover of Ufenau, the founding team of Einzelnet, led by José Gil Verdú, has significantly reinvested in the company and will continue to lead the business with the support of Swiss private equity, promoting both new specialties within the world IT (cybersecurity, data analytics, business intelligence, etc.) as its national and international expansion.
Ufenau will financially support the company and boost its internationalization thanks to the experience of the Swiss fund in inorganic growth (M&A), through a build-up strategy consisting of the acquisition of other complementary companies in the sector.
With more than 20 years of experience and more than 100 professionals working from 3 offices in Spain (Madrid, Valencia and Pamplona), Einzelnet supports its clients in their technological challenges through customized infrastructure and mobility solutions. The company is one of the largest independent specialists in Spain with a client base that includes private companies and public entities. The firm has grown uninterruptedly since it was founded in 2003, reinforcing its capabilities and its value proposition with comprehensive digitalization and IT solutions and an ambitious international vocation.
technology portfolio
In this new stage, Ufenau will rely on its extensive experience and network in the IT sector. The fund participates in 3 market groups that are carrying out growth projects in Europe. Success stories similar to the project you want to develop together with the management team of the Spanish company. In its portfolio is X1F, a European leader in IT solutions and digitization for banking and insurance, owned by Ufenau since 2020 and which has incorporated 4 companies since then, with more than 750 employees, presence in 11 countries and sales of more than 100 million per year. . The digital marketing agency MYTY also appears in its portfolio. With a presence in Germany and Switzerland and owned by Ufenau since 2019, it has integrated 7 companies under the group since the fund’s entry. Ufenau has also invested in Collana IT, a multi-specialist focused on Microsoft IT solutions. Participated by Ufenau since 2020, it has integrated 5 companies under the group together with the fund.
The Swiss fund received the Private Equity Awards in May 2022 (DACH Deal of the Year 2021) for the ‘Swiss IT Security’ project, a cybersecurity specialist and leader at European level. From the entry of Ufenau in 2017, until the sale to Triton Partners in 2021, Swiss IT’s turnover and profit multiplied by 10 times.
Since 2011, Ufenau has invested in more than 250 companies in Europe supported by a group of industrial partners (owners, CEOs, CFOs) aligning with entrepreneurs and managers. The Swiss fund seeks to acquire majorities in companies where the team leading the project reinvests significantly. The Zurich-based manager focuses on service companies in German-speaking European countries, in Iberia and Benelux, in sectors such as education and lifestyle, business services, healthcare, and financial services.
To the conquest of Spanish SMEs
The purchase of a majority stake in Einzelnet represents the first investment of the seventh fund of Ufenau Capital Partners, a private capital vehicle with 1,000 million euros committed for growth investments in Europe raised at the end of last April 2022 and also the third in Spain. In the last four months, Ufenau’s capital under management has gone from 1,000 million euros to more than 2,500 million, driven by the support of its Limited Partners (LPs in financial jargon), mainly family offices and institutional investors.
Ufenau Capital Partners, based in Zurich, had been closely exploring the Spanish market for two years. Although its main focus for Ufenau is in Germany, Switzerland and Austria, the firm was actively analyzing new investment opportunities in our country. With the signing of Joaquin Alcalde, the Swiss fund debuted in our country in 2021 with the purchase of a majority stake in R&M, a specialist in industrial refrigeration. Its founders and managers continue to lead the project with a relevant reinvestment.
His second investment in Spain was in the industrial cleaning sector, Alfus Iris, a leading provider of services and comprehensive technical solutions for industrial and urban hygiene based in Vizcaya. The company operates in the field of cleaning technician services, specialized hygiene for industrial clients, and in the rehabilitation, maintenance and hygiene of sanitation and sewerage networks in northern Spain, serving public and private clients, including large industrial multinationals.
The Swiss fund Ufenau supports entrepreneurs with their succession plans and helps them grow their businesses by investing with tickets of between 5 million and up to 50 million euros in national and international growth projects. The firm creates alliances with companies mainly in the service sector (not capital intensive) and billings that usually range between 15 and 150 million euros.
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